PITTSBURGH – March 2, 2018 – Buchanan Ingersoll & Rooney represented Wombat Security Technologies, Inc., a Pittsburgh-based leader for phishing simulation and security awareness computer-based training, in its sale to Proofpoint, Inc. (NASDAQ: PFPT) for approximately $225 million in cash. The deal closed on February 28, 2018.
Wombat, founded by faculty members at the Carnegie Mellon University School of Computer Science as a result of research on combating phishing attacks, is recognized by Gartner in the Leaders Quadrant of the Magic Quadrant for Security Awareness Computer-Based Training and works with Fortune 1000 and Global 2000 customers in industries such as finance, technology, banking, higher education, retail and consumer packaged goods to strengthen their cybersecurity defenses.
Thomas G. Buchanan, Brian S. North, Perry S. Patterson and Daniel R. Richey led the Buchanan corporate team, with assistance from Christopher B. Toner. Philip J. Weis and John E. McGrady III assisted with tax, executive compensation and benefits matters and Carrie G. Amezcua in the antitrust and trade regulation group, assisted with Hart-Scott-Rodino compliance.
Buchanan’s Corporate practice is known for complex transactions, deal structures and negotiations designed to meet clients’ operational and strategic objectives. Through Buchanan Labs, the firm assists emerging and early-stage companies in a variety of ways, including serving as general counsel and providing hands-on practical advice on legal and business problems such companies face. Attorneys are experienced in multiple areas of focus, such as mergers and acquisitions, commercial contracts, executive compensation, private equity and venture capital, emerging companies, securities and SEC, and technology transactions. The practice is nationally recognized by Corporate Counsel as a “go-to” firm for corporate law and ranks as a national Tier 1 practice in the U.S. News - Best Lawyers “Best Law Firms” report.